True Price and Living Income
We know that the price that farmers receive (farmgate price) is an important part of “closing the gap” but how does that relate to the market price? The True Price of a product includes social and environmental costs beyond the costs accounted for in the market price. Andrea Rusman and Bart van Veen from True Price shared how the true price of an agrifood product is calculated and how the concept of a living income is included in those calculations. Researcher Yuca Waarts of Wageningen and Yves-Pascal Suter of ofi also shared their learnings from the True Price methodology and how it complements the living income concept and strategies to close the income gap.
Wageningen University & Research aims to help millions of smallholder farmers and workers in agriculture sectors attain a living income, by translating research into actionable recommendations, aiding partners in evidence-based decision-making.